Common use of Replacement of Agent Clause in Contracts

Replacement of Agent. (a) The Agent may at any time give notice of its resignation to the Lenders and the Principal Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the consent of the Principal Borrower, such consent not to be unreasonably withheld, to appoint a successor, which shall be a Lender having a Commitment and having an office in Toronto, Ontario or Calgary, Alberta, or an Affiliate of any such Lender with an office in Toronto, Ontario or Calgary, Alberta. The Agent may also be removed at any time by the Required Lenders upon 45 days’ notice to the Agent and the Principal Borrower as long as the Required Lenders, with the consent of the Principal Borrower, such consent not to be unreasonably withheld, appoint and obtain the acceptance of a successor within such 45 days, which, in the case of the Agent, shall be a Lender having an office in Toronto, Ontario or Calgary, Alberta, or an Affiliate of any such Lender with an office in Toronto, Ontario or Calgary, Alberta.

Replacement of Agent. (a) The Agent may at any time give notice of its resignation to the Lenders and the Principal Borrower. Upon receipt of any such notice of resignation, the Required Majority Lenders shall have the right, with the consent of the Principal Borrower, such consent not to be unreasonably withheld, to appoint a successor, which shall be a Lender having a Commitment and having an office in 146 Toronto, Ontario or Calgary, Alberta, or an Affiliate of any such Lender with an office in Toronto, Ontario or Calgary, Alberta. The Agent may also be removed at any time by the Required Majority Lenders upon 45 30 days’ notice to the Agent and the Principal Borrower as long as the Required Majority Lenders, with the consent of the Principal Borrower, such consent not to be unreasonably withheld, appoint and obtain the acceptance of a successor within such 45 30 days, which, in the case of the Agent, shall be a Lender having an office in Toronto, Ontario or Calgary, Alberta, or an Affiliate of any such Lender with an office in Toronto, Ontario or Calgary, Alberta.

Replacement of Agent. (a) The Agent may at any time give notice of its resignation to the Lenders and the Principal Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the consent of the Principal Borrower, such consent not to be unreasonably withheld, to appoint a successor, which shall be a Lender having a Commitment and ‑ 128 ‑ having an office in Toronto, Ontario or Calgary, Alberta, or an Affiliate of any such Lender with an office in Toronto, Ontario or Calgary, Alberta. The Agent may also be removed at any time by the Required Lenders upon 45 days’ notice to the Agent and the Principal Borrower as long as the Required Lenders, with the consent of the Principal Borrower, such consent not to be unreasonably withheld, appoint and obtain the acceptance of a successor within such 45 days, which, in the case of the Agent, shall be a Lender having an office in Toronto, Ontario or Calgary, Alberta, or an Affiliate of any such Lender with an office in Toronto, Ontario or Calgary, Alberta.

Replacement of Agent. (a) The Agent may at any time give notice of its resignation to the Lenders and the Principal Borrower. Upon receipt of any such notice of resignation, the Required Majority Lenders shall have the right, with the consent of the Principal Borrower, such consent not to be unreasonably withheld, to appoint a successor, which shall be a Lender having a Commitment and having an office in Toronto, Ontario or Calgary, Alberta, or an Affiliate of any such Lender with an office in Toronto, Ontario or Calgary, Alberta. The Agent may also be removed at any time by the Required Majority Lenders upon 45 30 days’ notice to the Agent and the Principal Borrower as long as the Required Majority Lenders, with the consent of the Principal Borrower, such consent not to be unreasonably withheld, appoint and obtain the acceptance of a successor within such 45 30 days, which, in the case of the Agent, shall be a Lender having an office in Toronto, Ontario or Calgary, Alberta, or an Affiliate of any such Lender with an office in Toronto, Ontario or Calgary, Alberta.